The government on Dec. 4 pledged "unlimited liquidity" until the domestic markets for stocks, bonds, and short-term and foreign currency funds go back to normal in the wake of the lifting of martial law that morning. Shown is Deputy Prime Minister and Minister of Economy and Finance Choi Sang Mok (second from left) that day speaking at the Emergency Meeting on Macroeconomic and Financial Issues at the Korean Federation of Banks in Seoul's Jung-gu District. (Ministry of Economy and Finance)

By Kim Seon Ah

The government on Dec. 4 announced "unlimited liquidity" until "complete normalization" of the domestic markets for stocks, bonds, and short-term and foreign currency funds in the wake of the lifting of martial law that morning.

This came after the Emergency Meeting on Macroeconomic and Financial Issues at the Korean Federation of Banks in Seoul's Jung-gu District that day chaired by Deputy Prime Minister and Minister of Economy and Finance Choi Sang Mok.

Also attending were the heads of the Bank of Korea, Financial Services Commission and Financial Supervisory Service.

The ministry said in a statement, "The foreign currency market and those of Korean stocks overseas, which have shown instability due to the declaration of martial law the previous night, have gradually returned to stability with the lifting of martial law, so we decided to normally run all financial and foreign currency markets." 

"A joint pan-government monitoring system in real time will closely observe the financial markets," it added. "We will quickly implement all measures for market stability if necessary.

sofiakim218@korea.kr